Industrial Flex Building with Fenced
For Sale
$450,000
240 Watts Road, Jackson, MI 49203
Industrial flex building in a green zone with chain-link fenced yard and electric gate, plus hot water heating and a full bath.
Property Size3,800 SF
Price / SF$118.42
Days on Market145
Property Features for 240 Watts Road
General Information
Standard status
Active
Size
3,800 SF
Total Parking Spaces
10
Property subtype
Commercial
Zoning
Industrial
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$2,124
Building Details
Building Size
3,800 SF
Year Built
1980
Units
1
Listing Agency:
Home 1st Real Estate
(517) 740-8910
Listed By:
GEORGE PIERSON · License #6501344130
(517) 740-8910
Source:
Carolbollo
Added: Mar 31
Changed: Aug 8
Last Checked: Aug 22 at 2:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Home 1st Real Estate
Investment Insights
Based on property information with market context.
This industrial flex building includes 3,800 total square feet and is described as being in a green zone. The building features an instant-gas hot water heater and a full bath with an oversized shower. Exterior areas include a chain-link fenced property with an electric gate.
Additional in-building utilities noted include new high-speed cable. The property remarks also indicate it could be a good fit for AI or computer work based on its existing setup.
Overall, the combination of light industrial space, dedicated heating and plumbing features, and secured fenced access supports flexible small-scale operations.
Additional in-building utilities noted include new high-speed cable. The property remarks also indicate it could be a good fit for AI or computer work based on its existing setup.
Overall, the combination of light industrial space, dedicated heating and plumbing features, and secured fenced access supports flexible small-scale operations.
Key Highlights
- Industrial flex building totaling 3,800 sq ft, built in 1980
- Green zone industrial use
- Chain‑link fenced property with an electric gate
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,692
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$713,840
$713.8K
Cap Rate 7%
$509,886
$509.9K
Cap Rate 9%
$396,578
$396.6K
Market Conditions
NOI Build-Up for 3,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$61.6K $16.20/SF
− Vacancy
−$6.6K −$1.75/SF
EGI
$54.9K $14.45/SF
− OpEx
−$19.2K −$5.06/SF
NOI
$35.7K $9.39/SF
Area
Jackson County, MI
Vacancy
10.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$713,840
Cap Rate 7%
$509,886
Cap Rate 9%
$396,578
Alternative Uses
Best Use
Flex RnD
$509.9K
$446.2K – $594.9K
NOI $35,692 @ 7.0% cap · market cap 7.93%
Second Best
Industrial
$377.1K
$330.0K – $440.0K
NOI $26,400 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$606.6K
$530.8K – $707.7K
NOI $42,463 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49203, MI
37,269
Population
16,999
Households
2.2
Avg Household Size
39
Median Age
23%
College-Educated
93%
High-School Grad
26.5 sq mi
ZIP Area
1,406
Density / Sq Mi
$55,689
Median Household Income
$37,096
Median Earnings
$992
Median Rent
$150,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex building in a green zone with chain-link fenced yard and electric gate, plus hot water heating and a full bath.
Where is this flex space located?
The property is located at 240 Watts Road Jackson, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Industrial flex building totaling 3,800 sq ft, built in 1980; Green zone industrial use; Chain‑link fenced property with an electric gate
